Urban Outfitters store in Engalnd Martin Lee/REX/Shutterstock Urban Outfitters seems to have gotten itself a new activist investor. CtW Investment Group, a Washington, D.C.-based investor that works exclusively with union-sponsored pension funds, called out Urban for “persistent board composition issues” and urged shareholders to vote against two of the retailer’s longest-serving board directors, Robert Strouse and Harry Cherken Jr., at a general meeting set for later this month...

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The board is so insular that it has led to a broken nomination process.

The company's history of rewarding family members and affiliates of board members suggests that Urban continues to be run as a family business, rather than a $2.6 billion dollar publicly traded company with a large majority of outside investors.

As several of our larger, long-term shareholders have pointed out during our routine shareholder engagement efforts, changing the composition of a board is not something that can or should take place overnight.

This relatively strong position is the result of the stewardship of our board and the remarkable talents and creativity of our employees.